USD/CAD – 1H – BUYThe combination US Dollar/Canadian Dollar (USD/CAD) breaks through the descending trendline up.
An ascent upwards to the next resistance level at 1.40495 is certain.
Caution: A possible reversal of the trend in the direction of the support level at 1.40244 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Northern Doji’ candle chart pattern is discovered. The chart shows ‘Northern Doji’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.41246 |
| 2nd High | 1.41006 |
| Next High | 1.40495 |
| Current Price | 1.40487 |
| Next Low | 1.40244 |
| 2nd Low | 1.3971 |
| 3rd Low | 1.38876 |
1.40495 – 1.41006 – 1.41246 – 1.40244 – 1.40283 – 1.40812 —
1.40341 – 1.40443 —
43.903264710359 – 48.878249173627 —
– —
1.40495 – 1764244800
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji – – – – – – – – –